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Article
Publication date: 11 April 2021

Felicia Hui Ling Chong

This paper aims to provide a reflective discussion on the different avenues of blockchain application in Islamic finance in promoting trust and transparency for increased…

Abstract

Purpose

This paper aims to provide a reflective discussion on the different avenues of blockchain application in Islamic finance in promoting trust and transparency for increased accountability between parties involved in the delivery of Sharīʿah-compliant products and services.

Design/methodology/approach

This paper discusses on blockchain benefits in Islamic finance while providing an illustration with smart Sukuk. Having identified the advantages of the development of Islamic financial technology (i-FinTech), this study ends by debating a couple of challenges (computational codification of Sharīʿah principles and environmental impact) that have to be addressed to promote the development of a real sustainable Islamic FinTech.

Findings

This paper also identifies two challenges in using blockchain in i-Fintech. The first challenge refers to the extent to which Sharīʿah principles can be computationally encoded. Blockchain makes public all transactions that ease Sharīʿah compliance checks and determine if these transactions are Islamic in nature but this check can be done only after their operation. The second challenge is related to the algorithmic protocol used to validate smart contracts (including smart Sukuk). This situation calls into question the principles of Maqasid al-Sharīʿah according to which transactions should not harm society.

Originality/value

In the current debates related to the development of Islamic FinTech, this paper also identifies two challenges in using blockchain in i-Fintech.

Details

Qualitative Research in Financial Markets, vol. 13 no. 3
Type: Research Article
ISSN: 1755-4179

Keywords

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Article
Publication date: 10 July 2017

Ashraf Md. Hashim, Farrukh Habib, Ziyaat Isaacs and Mohamed Anouar Gadhoum

The purpose of this paper is to explain and critically analyse the Sharīʿah screening criteria and cleansing process for income generated from stocks with a special focus…

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Abstract

Purpose

The purpose of this paper is to explain and critically analyse the Sharīʿah screening criteria and cleansing process for income generated from stocks with a special focus on a newly developed ISRA-Bloomberg methodology.

Design/methodology/approach

The paper focuses on the methodology of ISRA-Bloomberg in terms of Sharīʿah screening of stocks and the income cleansing process. To achieve this objective, this paper adopts a descriptive approach.

Findings

The methodology of ISRA-Bloomberg is unique in terms of its criterion for screening stocks, the cleansing process and coverage of the universe of stocks. It facilitates the investors by offering a novel colour-coding scheme to indicate the Sharīʿah compliance of a stock. It also provides the exact ratios of the Sharīʿah-compliance criteria to the investors so they can closely observe changes in the trend of ratios and decide beforehand whether or not a company is likely to remain within the Sharīʿah-compliant list. The paper further discusses the issues in the screening and cleansing practices faced by the industry.

Research limitations/implications

This research is limited to the criteria of screening and income purification of stocks which have been used by ISRA-Bloomberg from a Sharīʿah perspective.

Practical/implications

The robust screening criteria and comprehensive analysis of the stocks will enhance the confidence of Islamic capital market participants. The investors, regulators and index providers will be equally able to benefit from this initiative.

Originality/value

The paper focuses on the recently established methodology of ISRA-Bloomberg, which has not been discussed in the literature until now. The methodology, because of its exceptionality, may add a new dimension to Sharīʿah screening and cleansing of stocks.

Details

ISRA International Journal of Islamic Finance, vol. 9 no. 1
Type: Research Article
ISSN: 0128-1976

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Article
Publication date: 20 September 2021

Anwar Allah Pitchay, Noha Mamdouh Aboue Eliz, Yuvaraj Ganesan, Al-Amin Mydin, Ririn Tri Ratnasari and Mohamed Asmy Mohd Thas Thaker

This study aims to examine the factors that affect individuals’ intention of participating in donation crowdfunding in the context of Oman.

Abstract

Purpose

This study aims to examine the factors that affect individuals’ intention of participating in donation crowdfunding in the context of Oman.

Design/methodology/approach

This study used the self-determination theory. A total of 250 respondents from Oman participated. The data is collected by online survey and analyses by using the partial least squares technique.

Findings

The results illustrate that sense of self-worth, perceived donor effectiveness and moral obligation positively affect donation intention (DI) towards crowdfunding projects. Furthermore, subjective norms and perceived behavioural control positively impact individuals’ intention to contribute to donation crowdfunding.

Originality/value

The results contribute to the literature on donation crowdfunding by identifying the driving forces of individuals’ DI to crowdfunding projects in Oman.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1753-8394

Keywords

Content available
Article
Publication date: 24 January 2020

Itamir Caciatori Junior and Ana Paula Mussi Szabo Cherobim

This paper aims to study the FinTech enterprises and the management theories related to this subject in a scientific way.

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1920

Abstract

Purpose

This paper aims to study the FinTech enterprises and the management theories related to this subject in a scientific way.

Design/methodology/approach

This study is a bibliometric study on FinTech enterprises. Its origin is a survey of 1,749 papers in 6 traditional peer-reviewed academic databases (e.g. Science Direct and Scopus) and in the “gray” literature, published by other agents and not subject to double-blind peer review. In this analysis we use three approaches: academic paper or not; journal main interest, and main purpose of the paper.

Findings

The first approach shows 45% of papers without blind review. The second approach shows no concentration on any journal. It represents no concentration on any kind of specific journal. And the third approach shows four kinds of contents in all researched papers: FinTech categorizations; FinTech related to theory of disruptive innovation; FinTech and theories of administration or economy; and finally, FinTech and regulatory and legislative aspects.

Originality/value

The findings identified the emergence of new research strands, precedence of studies of “gray” literature to explain the phenomenon, distribution of studies in different fields of knowledge (e.g. information technology, business and law) and lack of consensus in theories to explain the matter.

Details

Innovation & Management Review, vol. 17 no. 2
Type: Research Article
ISSN: 2515-8961

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